The Economic and Financial Crimes Commission (EFCC) has confiscated the international passport of former Delta State Governor Ifeanyi Okowa following his arrest on November 4, 2024.
Okowa faces accusations of diverting N1.3 trillion in oil derivation funds during his tenure from 2015 to 2023.
The allegations specify that Okowa mismanaged a 13 percent derivation fund from the federal account, as well as an additional N40 billion he claimed to have invested in shares of UTM Floating Liquefied Natural Gas and a major bank, which allegedly represented an eight percent equity stake for the offshore LNG project.
According to sources within the commission, Okowa was detained at the EFCC office in Port Harcourt, Rivers State, but has since been released after meeting bail conditions, which required him to submit his travel documents to the agency until investigations conclude.
In response to the serious accusations, Okowa dismissed them as “laughable” and politically motivated during a visit from the Urhobo Progress Union, asserting he is not concerned about the EFCC’s scrutiny.
He expressed confidence that he would clear his name, highlighting the discrepancies in how such large financial misappropriation would be feasible.
Okowa emphasized his administration’s commitment to prompt salary payments and developmental projects despite past financial constraints, urging the public to focus on the integrity of his service rather than the allegations stemming from political opposition.
“I know that by the special grace of God, we have done the things we ought to do to the best of our ability,” he stated, pledging continued support for the current governor, Sheriff Oborevwori, and expressing gratitude to the UPU for their backing throughout his political career.
